Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Open Commodity Derivative Contracts

At June 30, 2019, Company had the following open commodity derivative contracts to manage commodity price risks.

Type/Year	Index	Total Volumes		Weighted Average (“WA”) Price per Unit			Fair Value - June 30, 2019
		(in millions)					Asset (Liability)
Natural gas fixed price swaps		(Mmbtu)		($/Mmbtu)
2019 (July through December)	NYMEX-Henry Hub		90.5	$	2.78		$	37,790
2020	NYMEX-Henry Hub		24.6		2.78			2,979
Natural gas basis swaps (1)		(Mmbtu)		($/Mmbtu)
2019 (July through December)	NW Rockies Basis Swap		63.5	$	(0.54	)	$	(13,336	)
2020	NW Rockies Basis Swap		11.4		(0.17	)		1,114
Crude oil fixed price swaps		(Bbl)		($/Bbl)
2019 (July through December)	NYMEX-WTI		0.7	$	59.06		$	601
2020	NYMEX-WTI		0.5		60.31			1,727

Type/Year	Index	Total Volumes		WA Floor Price ($/MMBTU)		WA Ceiling Price ($/MMBTU)		Fair Value - June 30, 2019
		(in millions)						Asset (Liability)
Natural gas collars		(Mmbtu)
2019 (July through December)	NYMEX		2.8	$	2.85	$	3.13	$	1,376
2020	NYMEX		76.1	$	2.49	$	2.97	$	6,127
2021	NYMEX		7.2	$	2.47	$	3.03	$	(390	)
Natural gas deferred premium put options		(Mmbtu)
2020	NYMEX		27.9	$	2.41	N/A		$	1,707

(1) Represents swap contracts that fix the basis differentials for gas sold at or near Opal, Wyoming and the value of natural gas established on the last trading day of the month by the NYMEX for natural gas swaps for the respective period.

(2) The Natural gas deferred premium put options include an average deferred premium of $0.14 for the six months ended June 30, 2019.

Summary of Pre-tax Realized and Unrealized Gain (Loss) Recognized Related to Derivative Instruments

The following table summarizes the pre-tax realized and unrealized gain (loss) the Company recognized related to its derivative instruments in the condensed consolidated statements of operations for the three months ended June 30, 2019 and 2018:

	For the Three Months						For the Six Months
	Ended June 30,						Ended June 30,
Commodity Derivatives (in thousands):	2019			2018			2019			2018
Realized gain (loss) on commodity derivatives - natural gas (1)	$	3,936		$	10,982		$	(77,267	)	$	12,426
Realized gain (loss) on commodity derivatives - oil (1)		(516	)		(4,320	)		2,056			(4,690	)
Unrealized gain (loss) on commodity derivatives (1)		68,234			(53,933	)		82,527			(61,539	)
Total gain (loss) on commodity derivatives	$	71,654		$	(47,271	)	$	7,316		$	(53,803	)

(1) Included in Gain (Loss) on commodity derivatives in the condensed consolidated statements of operations.